Attention, those of you who own Alcoa Inc. (AA): AA has announced a 1-for-3 reverse stock split effective October 5, 2016. As a result, some alterations need to be made to your Snider Investment Method worksheets.
Lattco PRO & Lattco AutoPilot clients: the adjustments have been made for you and should be reflected in your account on Trade Day.
We’re here to help! If you have a position in AA, here is a link to the 1-for-3 split document that will tell you step-by-step what to do. Please contact us at 1-888-676-4337 or firstname.lastname@example.org if you have any questions about your AA position.
AA is in a frustrating position as a Snider Method investor. In most cases, it has been and will remain in winter until the price appreciates. The reverse split may create additional difficulty in implementing the standard Snider Method. At this time we are not recommending clients sell the shares. If you reach a point where you can sell calls on your shares of AA or the value is similar to your last purchase, please contact us. We will evaluate the position together to decide if transmogrification is the appropriate course to take.